Despite demonstrating resilience and a positive price trajectory, Bitcoin (BTC) faces a critical obstacle in surpassing the $31,000 mark. Meanwhile, VC Spectra (SPCT), one of the new DeFi projects, poses a challenge to Bitcoin dominance with its significant progress and real-life utility.
Will the recent Binance agreement with Fiat positively impact BTC’s price trajectory, or will SPCT potentially diminish its market dominance as the top crypto to buy? Let's find out!
Summary
- Bitcoin (BTC) could change direction and drop to the $25,000 threshold by the end of 2023.
- VC Spectra (SPCT) marks its dominance by rewarding its earliest investors with a 587% gain.
Bitcoin (BTC) Surges But Drops Soon After: Will Bears Take Over?
October 2023 has witnessed a clear manifestation of Bitcoin dominance over top altcoins, as indicated by its upward price trajectory.
On October 20, Bitcoin (BTC), which leads the list of the top 5 cryptocurrencies, marked a 6.4% price increase, reaching a critical milestone of $30,104 from a dip of $28,178 on October 19.
One plausible contributing element to the surge in Bitcoin's (BTC) price could be the statement issued by Binance on October 19. Binance announced its partnership with Fiat, enabling the facilitation of euro payments, as well as the processing of deposits and withdrawals. The initiative could enhance the global market applicability of Bitcoin (BTC).
Additional reasons that potentially influenced Bitcoin dominance include the SEC's withdrawal of its allegations against Ripple on October 19 and approval of the spot Bitcoin ETF, which unfortunately turned out to be false.
Despite experiencing a notable increase to surpass the $30,000 threshold on October 20, the price momentum of BTC has abruptly shifted to $29,800 as of October 21. The marginal Bitcoin drop has seen traders contemplating the future BTC price trajectory.
According to bearish analysts, Bitcoin's (BTC) trajectory might exhibit a negative trend that could see the price drop to $25,175 by the end of 2023. The rationales provided are the considerable volatility exhibited by Bitcoin (BTC), and the SEC's postponement of the Bitcoin ETF.
On the other hand, analysts with a bullish outlook on Bitcoin anticipate that BTC's price might surpass $35,000 due to increased usability and the prevailing market sentiment. Adding on to this sentiment is its resurgence towards $30,500 by October 23.
VC Spectra (SPCT) Showcases Its Dominance With A 587% ROI
As Bitcoin (BTC) maneuvers through the exceedingly volatile market, there is a growing interest in VC Spectra (SPCT) as the new top crypto to invest in today. The prominence of VC Spectra (SPCT) heightened after its private/seed sale, which raised a remarkable $2.4 million in a record two weeks’ time.
Furthermore, VC Spectra's (SPCT) practical application in real-world scenarios and significant gains achieved during its ongoing presale position it as one of the top DeFi projects within the cryptocurrency market.
VC Spectra's (SPCT) concept of a decentralized hedge fund offers an enticing opportunity for investors captivated by the prospects of profitable start-ups and exponential growth. Furthermore, VC Spectra (SPCT) is overseen by a team of industry experts, making it an attractive option for many investors, irrespective of their experience.
The platform enables users access to its services by utilizing its SPCT deflationary utility token. The BRC-20 standard SPCT token ensures consistent and limited availability of tokens. In addition, SPCT token holders have access to pre-ICOs, the ability to participate in voting processes, and the receipt of quarterly dividends and buybacks.
The SPCT coin has experienced a significant increase in value from the beginning of the public presale at Stage 1, with an initial price of $0.008. To date, it has progressed to Stage 4, with a value of $0.055, which signifies a substantial surge of 587% from its Stage 1 price.
The projected price for VC Spectra (SPCT) by the end of the presale is estimated to be $0.080. However, because of its remarkable growth and high demand, there is a possibility that the price of SPCT may reach the target earlier than initially planned.
VC Spectra (SPCT) has successfully fostered increasing confidence and enthusiasm among investors, demonstrating its potential as a leading blockchain ICO. Moreover, the platform is offering an enticing bonus on all deposits, making now the perfect opportunity to join if you haven’t already.
Learn more about the VC Spectra presale here:
Presale: https://invest.vcspectra.io/login
Website: https://vcspectra.io/
Twitter: https://twitter.com/spectravcfund
Telegram: https://t.me/VCSpectra
